HomeMy WebLinkAboutORD 44-FZ 41
AN ORDINANCE
AUTHORIZING THE iSSUANCE OF ADDITiONAL PROMISSORY NOTES OF
TATE CITY OF BEAU1+10NT FOR THE PURPOSE OF CONSTRUCTING A COT-
TON COMPRESS BUILDING IN ACCORDANCE 17!`TH THE LEASE CONTRACT
ENTERED INTO BY AND BETVIJEN THE CITY OF BrJAU1JONT AND GUY W.
JU1gKER, J. E. BROUSSARD AND J. L. T:IAPES, iNDiViDUALLY AND AS
TRUSTEES FOR TIM, B AUIJOItiT COTTONY CO1,,1PRESS COMPANY, PLEDGING
THE INCOME FROIVI SAID LEASED PRET.-ITS ES TO THE PAY11ENIT OF PRIN-
CIPAL iN'D I NT'7"R 1ST ON SAID NOTES AND AFFIXING A LIEN ON SAID
BU I DDING TO BETTER SECURE T14E PA-17EENT THEREOF ASID LEVYING A
TAY TO PAY THE i TEREST ON AND PROVIDEA SUFFICIENT SINYTNG
FUND FOR THE PAYi ENT OF TiEr' PRINCIPAL AND,.INTEREST ON SAID
DOTES AT i+:ZA^lURITY, AND DECLARING AN EL,ERGENCY.
V-KHEREAS, on the 14th day of September, A.D. 1926, the City
Commission of the City of Beaumont enacted an ordinance leasing to Guy
111. Dunker, J. E. Broussard and J. L. ,Tapes, individually and as Trustees
for the Beaumont Cotton Compress Company, certain wharf and dock prolp rty
Of the Ci ty of Beaumont for a term of ttrienty-five (25) years, and in s aid
ordinance it irias a;gteed by the C=ity of Beaumont to construct a cotton
compress building thereon; and
WHEREAS, on the 21st day of September, the City Commission of
the City of Beaumont enacted an ordinance authorizing the issuance of
promissory notes of the City of Beaumont in -the sum of ONT' HU=,QTDRED
THOUSAIvD AND N0/100 (;,x100,000.00) DOLLARS to pay for the construction
of said Cotton compress building; and
T-1HEERE,AS, the sum of ONE HUi�DRED THOUSAND AND N01100 (5100,000.00)
DOLLARS is not sufficient to complete said building in order to comply
with lease contract with Guy W. Junker, J. E. Broussard and J. L. Mapes,
individually and as Trustees for ,thb Beaumont Cotton Compress Company,
and it is- Necessary to complete said compress building immediately to
take care of cotton now available for compressi� and shipment through
the port bf Beaumont, and it is necessary to issue additional notes of
the - City of Be aumont in the suiil of TWENTY-FIVE THOUSAND AND 1\10/100
(;'25,000.00) DOLLARS to pay for completion of said building and to meet
said emergency.
NOW) THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION
OF THE ' C TTY OF BEAUI4`TONT :
SECTION I.
That the 4funds necessary for the construction of said building
by the City of Beaumont shall be provided by the issuance and sale of
promissory motes of the City of Beaumont in the sum of Thous
and and no/100 (,%2.5,000.00) Dollars, desc-ribec_-a:s"follows:
Said notes shall be numbered from one (1) to twenty-five (25),'..
inclusive, shall be of the denomination of One Thousand and no/100,
((1,000_00) Dollars each, a.ggrega_ting Twenty-five Thousand and no/100
( ;25,000.00) Dollars.
Said notes shall be dated on the first day of February, -1927,.
V "
NOTE NUMBER
DATE .OF MATURITY
AKOUNT
Z
February
1,.192Q
11,000.00
2
February
1-,
1929
17000.00.
3
February
12
1930
17000.00
4
February
1,
1931
1:,000.00.
5
February
1,
1932
1,;000.00
6
February
1,
1933
11000.00
7
February
1,
1934
12000.00
3
February
1,
1935
17000-.00
9
February
1,
1936
12000.00
10
February
1,
1937
12000.00
11
February
1,
1938
12000.00
12
February
1,
1939
17000.00
13
February
1,
1940
12000.00
14
February
1,
1941
12000.00
15
February
1,
1942
1,.000.00
16
February
1,
1943
12000.00
17
February
1,
1944
12000.00
18
February
1,
1945
1,.000.00
19
February
1,
1946
1,000_.00
20
February
1,
1947
1, 000.00
21
February
1,
1948
12000.00
22
February
1,
1949
11000.00
23
February
1 ,
1950
12000;00
24
February
1,
1951
1,000_.00
25,
February
1,
1952
11000.00
Said notes
shall bear interest
at
the rate
of five (5%) per
cent per' annum from date until paid, interest payable on the first day
Of February., 1928, and semi—annually thereafter on the first day of
February and the first day of August of each year, both principal and
interest payable at the office of the Director of Finance of the City
of Beaumont, Beaumont, Texas, or at the Rational City Bank of New York
City, New York, at the option of theholder, upon surrender of notes or
proper coupons.
Said notes shall be signed by the Ha.yor,.countersigned by the
City Mggager, attested by the City Clerk, registered by the hirector of
Finance, ' and the seal of said City shall be impressed upon each of said
notes. Fac simile signatures of the Mayor and City tanager and City
Olerk may be lithographed upon the interest coupons.
SECTION II.
Said notes shall be called:
"CITY OF BEAULONT COTTON COMPRESS NOTES*— SERIES B
and shall be substantially in the following form:
a
No .
el
1pl , 000.00
UNITED STATES OF AMERiCA
THE STATE OF TEXAS
COUNTY OF J13FFERSON
CITY OF BEAUYONT COTTON COMPRESS NOTES v 559M:5 6
THE, CITY OF BtAUEONT, a municipal corporation, in the County
of Jefferson and State of Texas, for value received, hereby promises
to pay to BEARER on the first day of February 19_, the principal sum of
ONE THOUSAND DOLLARS (y1,000.00)
in lawful money of the United States of America, together with interest
thereon from date hereof until paid, at the rate of five (51/1,,') per cent
per annum, interest payable on the first day of February, 192$, and
semiannually -thereafter on the first day of February and the first day
of August of each year, both principal and interest payable upon pres-
entation and surrender of note or proper coupon at the office of the
Director of Finance of the City of Beaumont, Beaumont, 'Texas, or at
the National onal City Bank of New York City, New York, at the .option of
the holder'.
This note is one of a series of twenty-five (25) notes num-
bered consecutively from one (1) to twenty-five (25) , inclusive, of the
denomination of One Thousand Dollars (,1,000.00) each, aggregating
Twenty-five Thousand and no/100 ($25,000.00)' Dollars, authorized to
b
be issued to provide the,�fundg for the of e --cotton compress
building, on the i,,lharf and dock property of the City of BeauTnont and
issued under and by virtue of the Constitution and laws of the State
of Texas and the Charter of said City, and in pursuance of an or-
dinance passed by the City Commission of the City of Beaumont on the
1st day of February, A.D. 1927, which -is recorded in Booky` , Page
aldl-�Ia...eA,. tfb
'36 of the Minutes of,� said Commission.
Ld �,��- s , q 7
IT IS HEREBY CERTIFIED AND RE'CiTED that all acts,conditions
and thin --s required to be doneurecedent to and in the issuance of this
t- $
i "1
and due time, form and manner, as required by lave, and that the f ul.l
faith and credit of the City of Beaumont, as wellas the revenues
from said property to be constructed, are pledged to the payment .of
this note and as further security therefor, a lien is hereby given
on Mid building to secure the payment hereof, and in further security
the speedal tax which has been levied for the payment of principal
and interest of this series of notes, are hereby irrevocably pledged
for the punctual payment of the principal and interest of thi s. note, and
that this series of notes, together with all other indebtedness of said
City do o� t exaaeed any charter, constitutional or statutory limitation.
it is specially agreed that all past due interest hereon shall
bear interest at the rate of five (.5,) per cent per annum, and if this
note or any interest coupon Thereto attached is not paid at maturity, up—
on lawful demand and presentation thereof for payment, and same is
placed in the hands of an attorney for collection or callec:ted b��
P '
legal process, the City of Beaumont agrees to pay ten (lot) attorney's
fees.
IN TJSTIMGYY WTERFOF the City of Beaumont, Texas, has caused
its corporate seal to be hereto affixed and this note to be signed by �.
its Kayor, countersigned by its CiQ-..Manager,, Attested,by its City Clerk,
m
and registered by its __rector of Finance, as of thof i rst day of�tt-' .,.r
192..
Mayor, Ui ty of Beaumont,. Texas.
Countersigned:
'City Panager, City of Beaunont,-Texas.
ATTEST:
City Clerk, City of Beaumont, Texas.
Regi stered:
ff �
The form of interest coupon att.a.ched to each of said notes
shall be substantially as follows: ('2xc.ept coupon number 1, which shall
be for one Year's interest)
No . '�25 ..00
ON THE FIRST OF
1-9
THE CITY OF BEAUIVIONT, in Jefferson. County, Texas, viill pay to
B"EMRER at the off -ice of the Director of Finance of the City of
Beaumont, Beaumont, lexa-s, or at the National City Bank of New
York City, New York, at the option of the holder, Twenty—Five
and no/100 ($25.00) Dollars, being six (6) months interest. on
City of Beaumont Cotton Compress Building notes dated February
1.,. 1927,: to which this coupon is attached and is a part there—
of .
T+�atlor, Ui ty of Beaumont, Texas.
k
i NfNTERS I GIS ED :
Ci ty I":Ianager, City of Beaumont, Teas/
ATPTEST
City Ul.erk,. City of Beaumont, Texas.
REGISTERED:
Director- of Finance, City of Beaumont..
SECTION -Ill..
It is further ordered that the 1:1Iayor be authorized and ha is
hereby directed to take. and have char-ge of the above described notes
pending their sale and that he shall proceed to sell the same at no
less than their face value and a.ccrued interest at public or p-rivat.e
sale and proceeds of such sale. shall be deposited with the Director
of Finance of the City of Beaumont and
the proceeds of said notes
shall be used for -the purpose of^�!^' �_ti� cotton compress build—
ing on the wharf and dock property of. the Ci ty of Beaumont leased to
SECTION IV..
Be it further ordained that for the purpose of paying the
interest on said promissory notes and creating a sinking fund sufficient
to pay the principal thereof at maturity, the proceeds from the rental
of said premises and said building and all Other incomes therefrom are
hereby pledged and there is hereby given and affixed a lien on said-
building
aidbuilding to further secure the payment of said notes,. and there is here-
by levied for the current year and for each succeding year while said -
notes or any one of them are outstanding, an ad valorem tax of -one-half_
cent-(.$.02cA') on each $100..00 valuation on all taxable property in the
City of Beaumont, and said tax, or so much thereof, or such other tax
a.s shall be necessary, shall be annually assessed and collected and
applied to the purposes na.me:d,.
SECTION V.
The fact that the City of Beaumont has entered into a. lease
contract with Guy W. Dunker, J. E. Broussard and J. L.. napes, i ndivi.dual-
ly and as Trustees for the Beaumont Cotton Compress Company, leasing
to them said wharf and dock property for cotton compress purposes for
a period: of tilr.anty-=five (25) years and the City has agreed to construct
on said property a cotton compress building to take care of the cotton.
crop which is now available for compressing and shipment through the
port of Beaumont and the building now under construction cannot be cam=
pleted without additional funds, creates an emercenay and an imperative
public necessity requiring the suspension of the rule providing that.
ordinances shall be read on three (3) separate days before their final
?passage, wherefore, said rul.e is hereby suspended and this ordinance
shall take effect from and after the date of its passage.
Passed by an affirmative vote of all members of the City
Commission of the City of Beaumont on this the 1st day of February,
A.D.. 1927.
I.fla yo r:.,
AN ORDINANCE
AUTHORIZING THE ISSUANCE OF ADDITIONAL- PROMISSORY NOTES OF THE CITY OF
BEAUMONT FOR THE PURPOSE OF CONSTRUCTING A COTTON COMPRESS BUILDING IN
ACCORDANCE WITH THE LEASE CONTRACT ENTERED INTO BY AND BETWEEN THE CITY
OF BEAUMONT AND BUY VJ. JUNKER, J. E. BROUSSARD AND J. L. MAPES, -INDIVI*
DUALLY AND'AS TRUSTEES FOR THE-BEAUMONT COTTON COMPRESS COMPANY, PLEDG-
ING THE INCOME FROM SAID LEASED PREMISES TO THE PAYMENT OF PRINCIPAL
AND INTEREST ON SAID NOTES AND AFFIXING A LIEN ON SAID BUILDING TO BETTER
SECURE THE PAYMENT THEREOF AND LEVYING A TAX TO PAY THE INTEREST ON AND
PROVIDE A SINKING FUND SUFFICIENT FOR THE PAYMENT OF THE PRINCIPAL AND
INTEREST ON SAID NOTES AT MATURITY, --AND DECLARING AN EMERGE=NCY.
WHERLAS, ON THE 14TH DAY OF SEPTEMBER, i-,_ D. 1926, THE CITY COMMISSION
OF THE CITY OF BEAUMONT ENACTED AN ORDINANCE LEASING TO GUY W. JUNKER, J. E. BROUSSARD
AND J. L.-MAPES, INCIVIDUALLY AND AS TRUSTEES FOR THE BEAUMONT COTTON COMPRESS"COMPANY
CERTAIfJ WHARF AND DOCK PROPERTY OF THE CITY OF BEAUMONT FOR A TERM OF TWENTY-FIVE,(25)
YEARS, AND IN SAID ORDINCANCE IT WAS AGREED BY THE CITY OF BEAUMONT TO CONSTRUCT A
COTTON COMPRESS BUILDING THEREON; AND
WHEREAS ON THE 21ST DAY OF SEPTEMBER, THE CITY COMMISSION OF THE CITY
OF BEAUMONT ENACTED AN ORDINANCE AUTHORIZING THE ISSUANCE OF PROMISSORY NO ES OF THE
CITY OF BEAUMONT IN THE SUM OF ONE HUNDRED THOUSAND AND NO?100 ($100,000.00) DOLLARS
TO PAY FOR THE CONSTRUCTI.ON OF SAID COTTON COMPRESS BUILDING; AND
WHEREAS, THE SUM of ONE HUNDRED THOUSAND.AND NO/100 ($IQO,000.00)
DOLLARS IS NOT SUFFICIENT -TO COMPLETE SAID BUILDING IN ORDER TO COMPLY WITH LEASE CON-
TRACT WITH GUY VJ. JUNKER, J. E. BROUSSARD AND J. L. MAPES, INDIVIDUALLY AND AS TRUSTEES
FOR THE BEAUMONT COTTON COMPRESS COMPANY, AND IT IS NECESSARY TO COMPLETE SAID COMPRESS
BUILDING IMMEDIATELY TO TAKE CARE OF COTTON NOW AVAILABLE FOR COMPRESSING AND SHIPMENT
THROUGH THE PORT OF BEAUMONT, AND IT IS NECESSARY TO ISSUE ADDITIONAL NOTES OF THE CITY
OF BEAUMONT IN THE SUM:OF TWENTY-FIVE THOUSAND AND N0/100 ($25,000.00) DOLLARS TO PAY
FOR COMPLETION OF'SAID BUILDING AND TO MEET SAID EMERGENCY.
1\10�1,1, THEREFORE, BE IT ORDAINED'BY THE CITY COMMISSION
OF THE CITY OF BEAUMONT:
SECTION I.
THAT THE ADDITIONAL FUNDS NECESSARY`FOR THE CONITRUCTION OF SAID
BUILDING BY THE CITY OF BEAUMONT SHALL BE PROVIDED BY THE ISSUANCE AND SALE OF
PROMISSORY NCi ES OF THE CI'.TY OF BEAUMONT IN THE SUM of TWENTY-FIVE THOUSAND AND NO/100
($25.,000.00) DOLLARS, DESCRIBED AS FOLLOWS:
SAID NOTES SHALL BE NUMBERED FROM ONE (1) TO TWENTY-FIVE (25),
INCLUSIVE, SHALL BE OF THE DENOMINATION OF ONE THOUSAND AND NO/100 ($1,000.00) DOLLARS
EACH, AGGREGATING TWENTY-FIVE THOUSAND AND NO/100 ($25,000.00) DOLLARS.
SAID NOTES SHALL BE DATED ON THE FIRST DAY OF FEBRUARY, 1927, AND SHALL
BECOME DUE AND PAYABLE SERIALLY AS FOLLOWS:
NOTE NUMBER DATE OF MATURITY AMOUNT
I FEBRUARY 1, 1928 $ 1,000.00
2, FEBRUARY 1,.1929 1,000.00
3, FEBRUARY 1, .1930-'1,000.00
NOTE NU41BER
DATE OF MATURITY
AMOUNT
8,
FEBRUARY
1,
1935
$ 1,000.00
9,
FEBRUARY
1,
1936
1,000.00
10,
FEBRUARY
1,
1937
1,000.00
11,
FEBRUARY
1,
1938
1,000.00
12,
FEBRUARY
1,
1939
1,000.00
13,
FEBRUARY
1,
1940
1,000.00
14,
FEBRUARY
1,
1941
1,000.00
15,
FEBRUARY
1,
1942
1,000.00
16,
FEBRUARY
1,
1943
1,000.00
17,
FEBRUARY
1,
1944
1,000.00
18,
FEBRUARY
1,
1945
1,000.00
19,
FEBRUARY
1,
1946
1,000.00
20,
FEBRUARY
I,
1947
1,000.00
21,
FEBRUARY
1,
1948
1,000.00
22,
FEBRUARY
1,
1949
1,0170.00
23,
FEBRUARY
1,
1950
1,000.00
24,
FEBRUARY
1,
1951
1,000.00
25,
FEBRUARY
1,
1952
1,0170.00
SAID NOTES SHALL BEAR INTEREST AT THE RATE OF FIVE (5%) PER CENT PER
ANNUM FROM Di,TE UNTIL PAID, INTEREST PAYABLE ON THE FIRST DAY OF FEBRUARY, 1928, AND
SEMI-ANNUALLY THEREAFTER ON THE FIRST DAY OF FEBRUARY- AND THE FIRST DAY OF AUGUST OF EACH
YE,=R, BOTH PRINCIPAL AND INTEREST PAYABLE AT THE OFFICE OF THEDIRECTOR CF FIRIQNCE OF
N9VIIXY0R THE CITY OF BEAUMONT, BEAUMONT, TEXAS, OR AT THE I AT I OVAL CITY BFNK OF NEW YORK
CITY, NEVJ YORK, AT THE OPTION OF THE HOLDER, UPON SURRENDER OF NOTES OR PROPER COUPONS.
SAID NOTES SHALL BE SIGNED BY THE MAYOR, COUNTERSIGNED BY THE CITY
MANAGER, ATTESTED BY THE CITY CLERK, REGISTERED BY THE DIRECTOR OF FINANCE, AND THE SEAL
OF SAID CITY SHALL BE IuIPRESSED UPON EACH OF SAID NOTES. FAC SIMILE SIGNATURES OF THE
MAYOR AND CITY MANAGER AND CITY CLERK MAY BE LITHOGRAPHED UPON THE INTEREST COUPONS.
SECTION II.
SAID NOTES SHALL BE CALLED:
"CITY OF BEAUNONT COTTON COMPRESS NOTES - SERIES B"
AND SHALL BE SUBSTANTIALLY IN THE FCLLOWING FORM:
NO. $1,000.00
UNITED STATES OF AMERICA
THE STATE OF TEXAS
COUI\ITY OF JEFFERSON
CITY OF BEAUI";ONT COTTON COMPRESS NOTES- SERIES B
THE CITY OF BEAUMONT, A MUNICIPAL CORPORATION, IN THE COUNTY OF
JEFFERSON AND STATE OF TEXAS, FOR VALUE RECEIVED, HEREBY PROMISES TO PAY TO BEARER ON
i J_J 1 �' ' �I II � F -•
ON THE FIRST DAY OF FEBRUARY, 1928, AND SEMIANNUALLY THEREAFTER ON THE FIRST DAY OF
FEBRUARY AND THE FIRST DAY OF AUGUST OF EACH YEAR, BOTH PRINCIPAL AND INTEREST PAYABLE
UPON PRESENTATION AND SURRENDER O.F NOTE OR PROPER COUPON AT THE OFFICE OF THE DIRECTOR
OF FINANCE OF THE CITY OF BEAUMONT, BEAUMONT, TEXAS, OR AT THE NATIONAL CITY BANK OF
NEW YORK CITY, NEW YORK, AT THE OPTION OF THE HOLDER.
THIS NOTE IS ONE OF A SERIES OF TWENTY-FIVE (25) NOTES NUMBERED CON-
SECUTIVELY FROM ONE (10 TO TWENTY-FIVE (25), INCLUSIVE, OF,THE DENOMINATION OF ONE
THOUSAND DOLLARS 9 ($1,000.00) EACH, AGGREGATING -TWENTY-FIVE THOUSAND AND No/100
THE
($25,000.00) DOLLARS, AUTHORIZED TO BE ISSUED TO PROVIDE/ADDITICNAL FUNDS FOR THE
COMPLETION OF THE COTTON COMPRESS BUILDING ON THE WHARF AND DOCK PROPERTY OF THE CITY
OF BEAUMONT AND ISSUED UNDER AND BY VIRTUE OF THE CONSTITUTION AND LAWS OF THE STATE
OF TEXAS AND THE CHARTER OF SAID CITY, AND IN PURSUANCE OF,AN ORDINANCE PASSED BY THE
CITY COMMISSION OF THE CITY OF BEAUMONT ON THE IST DAY OF FEBRUARY, A. D. 1927, WHICH
IS RECORDED IN BOOK 5, PAGE 356 OF THEA NUTES OF`ORDINANCES OF SAID COMMISSION.
THE -DATE OF THIS NOTE IN CONFORMITY WITH SAID ORDINANCE IS FEBRUARY I,
1927.
IT IS,HEREBY CERTIFIED AND RECITED THAT ALL ACTS, CONDITIONS AND
THINGS REQUIRED TO BE DONE PRECEMENT TU AND IN THE ISSUANCE OF THIS NOTE HAVE BEEN
PROPERLY DANE AND PERFORMED AND HAVE HAPPENED IN REGULAR AND -DUE TIME, FORM AND MANNER,
AS REQUIRED BY LAW, AND THAT THE FULL FAITH AND CREDIT OF THE CITY OF BEAUMONT, AS WELL
AS THE REVENUES FROM SAID PROPERTY TO BE CONSTRUCTED, ARE PLEDGED TO THE PAYMENT OF
THIS NOTE AND AS FURTHER SECURITY THEREFOR,A LIEN IS HEREBY GIVEN ON SAID BUILDING TO
SECURE THE PAYMENT HEREOF, AND IN FURTHER SECURITY THE SPECIAL TAX WHICH HAS BEEN
LEVIED FOR THE PAYMENT OF PRINCIPAL AND INTEREST OF THIS SERIES OF NOrES, ARE HEREBY
IRREVOCABLY PLEDGED FOR THE PUNCTUAL PAYMENT OF THE PRINCIPAL M D INTEREST OF THIS NOTE,
AND THAT THIS SERIES OF NOTES, TOGETHER WITH ALL OTHER INDEBTEDNESS OF SAID CITY DOES
NOT EXCEED ANY CHARTER, CONSTITUTIONAL OR STATUTORY LIMITATION.
IT IS SPECIALLY AGREED THAT ALL PAST DUE INTEREST HEREON SHALL BEAR
INTEREST AT THE RATE OF FIVE (5%) PER CENT PER ANNUM, AND IF THIS NOTE OR ANY INTEREST
COUPON HERETO ATTACHED IS NOT PAID AT MATURITY, UPON LAWFUL DEMAND AND PRESENTATION THERE-
OF FOR PAYMENT, AND SAME IS PLACED IN THE HANDS OF AN ATTORNEY FOR COLLECTION OR
COLLECTED BY A LEGAL PROCESS,'THE CITY CF BEAUMONT AUREES TO PAY TEN (I0%) PER CENT
IT IS FURTHER ORDERED THAT THE MAYOR BE AUTHORI7-ED AND HE IS HEREBY
DIRECTED TO TAKE AND HAVE CHARGE OF THE ABOVE DESCRIBED NOTES PENDING THEIR SALE AND THAT
HE SHALL PROCEED TO SELL THE SAME AT NO LESS THAN THEIR FACE VALUE AND ACCRUED INTEREST
AT PUBLIC OR PRIVATE SALE AND PROCEEDS OF SUCH SALE SHALL BE DEPOSITED WITH THE DIRECTOR
OF FINANCE OF THE CITY OF BEAUMONT AND THE PROCEEDS OF SAID NOTES SHALL BE USED FOR THE
PURPOSE OF FINISHING CONSTRUCTION OF COMTON COMPRESS BUILDING ON THE WHARF AND DOCK
PROPERTY OF THE CITY OF BEAUMONT LEASED TO GUY W. JUNKER, J. E. BRJUSSARD AND J. L. MAPES,
INDIVIDUALLY AND AS TRUSTEES FOR THE BEAUMONT COTTON COMPRESS COMPANY.
SLCTICN IV.
BE IT FURTHER ORDAINED THAT FOR THE PURPOSE OF PAYING THE INTEREST ON
SAID PROMISSORY NOTES AND CREATING A SKNKING FUND SUFFICIENT TO PAY THE PRINCIPAL THEREOF
AT MATURITY, THE PROCEEDS FROM THE RENTAL OF SAID PREMISES AND SAID BUILCING AND ALL OTHER
INCOMES THEREFROM ARE HEREBY PLEDGED AND THERE IS HEREBY GIVEN AND AFFIXED A LIEN ON SAID
BUILDING TO FURTHER SECURE THE PAYMENT OF SAID NffES, AND THERE IS HEREBY LEVIED FOR THE
CURRENT YEAR AND FOR EACH SUCCEEDING YEAR WHILE SAID NOTES OR ANY ONE OF THEM ARE OUT-
STANDING, AN AD VALOREM TAX OF ONE-HALF CENT ($.)-21¢) ON EACH '4LI00.O0 VALUATION ON ALL
TAXABLE PROPERTY IN THE CITY OF BEAUMONT, AND SAID TAX, OR SO MUCH THEREOF, OR SUCH OTHER
TAX AS SHALL BE NECESSARY, SHALL BE ANNUALLY ASSESSED AND COLLECTED AND APPLIED TO THE
PURPOSES NAMED.
SECTION V.
THE FACT THAT THE CITY OF 3EAUMONT HAS ENTERED INTO A LEASE CONTRACT
WITH GUY. ". JUNKERI� J. E. BROUSSARD AND J. L. MAPES, INDIVIDUALLY AND AS TRUSTEES FOR
THE BEAUMONT COTTON COMPRESS COMPANY, LEASING TO THEM SAID WHARF AND DOCK PROPERTY FOR
COTTON COMPRESS PURPOSES FOR A. PERIOD OF TWENTY-FIVE (25) YEARS AND THE CITY HAS AGREED TO
CONSTRUCT -ON SAID PROPERTY A COTTON COMPRESS•BUILDING'TO TAKE CARE OF THE COTTON CROP WHICH
IS NOW AVAILABLE FOR COMPRESSING AND SHIPMENT THROUGH THE PORT OF BEAUMONT AND THE BUILDING
NCVV UNDER CONSTRUCTION CANNOT BE COMPLETED WITHOUT ADDITICNAL FUNDS, CREATES AN EMERGENCY
AND AN IMPERATIVE PUBLIC NECESSITY REQUIRING THE SUSPENSION OF THE RULE PROVIDING THAT
ORDINANCES SHALL BE READ ON THREE (3) SEPARATE DAYS BEFORE THEIR. FINAL PASSAGE, WHERE-
FORE, SAID RULE IS HEREBY SUSPENDED AND THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER
THE DATE OF ITS PASSAGE.
PASSED BY AN AFFIRM,TIVE VOTE OF ALL MEMBERS OF THE CITY COMMISSION OF
W
i
The State;- j f;
Countrp of Jeff ,,myon
Before me, the undersigned authority, on this day personally appeared------------------
&__________________ _ _j- _ _ _ ----------- _ _ no -to me, who being by me duly sworn, on his oath de-
poses and says, that he is the -------�-------of the" E EcE,
BEAUMONT JOURNAL, a newspaper published in said county; that a copy of the within -and
;fre oing was published in said newspaper, such publication being on the following dates':
; ------ A. D. 192, and a newspaper copy of which is hereto at-
3 J
to -and subscribed before me, this------ - ---day of__L� __A. D. 192-
- ----- / i
Notary Public, Jefferson Con ty, Texas._ .
'LEGAL NOTICE LEGAL NOTICES.
i
AN OF. DI\,NCE day of August of each year, both.
Authorizing the issuance of ad7 principal and interest payable upon;
ditional promissory notes of the presentation and Surrender b! note
'nt £or the purpose ,or Proper .coupgn at ti}
city of Beawnoe officeeof
I of constructing" a cotton compress the director of finance of th'city
building in accordance by ith 'the of ��eagmon., Beaumont, Texas, or
~ lease contract- enrered into by and at the ICaYioi12I GftS' Brink of New
between the city of Beauinmrt and York City, New Yorh, at the optic}??
a